I think that this is a slime mould (or myxomycete) and despite the occurrence of the word ‘mould’ it is not a fungus. Your photo would show it in transition from the soft, mobile (and somewhat amoeba-like) feeding stage (or plasmodium) and the dry, powdery sporing state. This might be in the genus Tubulifera, since (1) the mobile stage is a bright red shade and (2) your photo suggests the final development will be into a single, mounded form (rather than a split into numerous small, separate spore capsules). If you wish to search for more information, check also under an older name for this genus: Tubifera. It’s the one such red-plasmodium genus that I’ve seen in the ACT but from the photo I can’t guarantee the genus.
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